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Paying Off Your Student Loans and Funding Your Child’s Education

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In College Planning & Financial Aid FeaturedLendKey

As a parent, you may not have taken a traditional path to education. You may have chosen to go back and get a new degree later in life, or you might not have started school until after your children were born. In some cases, you may simply still be paying off your student loans as your children prepare for college. You want to help your child pay for their education, but at the same time, you need to get your own student loans paid off. How can you both pay off your own student loans and pay for your child’s …

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Parent PLUS Loans and Other Student Loans for Parents

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In College Planning & Financial Aid Getting a Student LoanLendKey

One of the biggest things on your mind as a parent is probably supporting your child through college. A potential way to do this is by using college savings accounts to save money for tuition, textbooks, and other education-related expenses. However, savings accounts are only useful if you have time to plan ahead for your child’s college education, and enough disposable income that you can comfortably set aside money month-over-month. Fortunately, there are other ways to help your child pay for college: student loans for parents. Usually, when we think of student loans, we think about all the debt being …

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How to Save for College — Types of College Savings Accounts

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In College Planning & Financial Aid GeneralLendKey

If you’re a parent who is trying to save money for your child’s college education, then you’ve probably heard about college savings accounts. A college savings account is an account that you can deposit money into to be drawn on later when it’s time to pay for tuition, textbooks, housing, or any of the other eligible expenses that come with higher education. However, even a brief look at college savings accounts will tell you that there are many different types out there, each with their own unique twist. Let’s take a look at the types of college savings accounts available …

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How Much Should Parents Save for College?

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In College Planning & Financial AidLendKey

As a parent, you want to ensure that your children will have the best future that they possibly can. That means setting them up for success and making sure that they’re able to go to college and graduate without worrying about the finances behind it. Unfortunately, college costs a lot of money. It’s no longer feasible for someone to pay for college through a part-time job while taking on extra hours during the summer. Saving for college before your child has even graduated high school is one way to make sure that they have all the money that they need …

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Financial Aid for a Second Bachelor’s Degree — Getting Student Loans When You Return to School

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In College Planning & Financial AidLendKey

With wage stagnation in the short-term and concerns about automation in the long-term, many American workers are starting to think about heading back to college for a second degree. Getting a second bachelor’s degree can have many benefits. It’s a chance for people to change their career, gain additional skills, and hopefully, find a job that offers more long-term financial security. However, whether you’re entering college for the first time or heading back for another degree, many students are facing the reality: college is starting to cost a lot, and it’s not at all clear how to pay for it. …

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Student Loan Benefits for Veterans

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In College Planning & Financial Aid Getting a Student LoanLendKey

The U.S. Department of Veterans Affairs and many private organizations offer education benefits and assistance to veterans and their families. In fact, 25 percent of those benefitting from VAs education programs are non-Veterans. Below is an overview of these benefits. Keep in mind that many colleges and universities also have dedicated resources on campus to assist Veteran students in understanding and obtaining their full benefits. Post-9/11 GI Bill The Post-9/11 GI Bill provides up to 36 months of education benefits for veterans enrolled in both degree and non-degree programs. Recent changes include lifting the 15-year time limit to use the …

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Beginning Your Student Loan Application: A Guide for High School Students

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In College Planning & Financial Aid Getting a Student LoanLendKey

It’s never too early to start preparing for college. In fact, if you’re in your junior or senior year of high school, then you’ve probably already begun preparing for college. Perhaps you’ve been hard at work studying for the SAT, keeping up your GPA, and completing college applications. These are all important parts of college preparation, but determining how you’ll pay for college should be a priority too. Now that college costs so much, it’s more important than ever to have a plan for how you’re going to pay for things like tuition, rent, and other expenses. For many students, …

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Behind the Curtain: Generation Z Students in College

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In College Planning & Financial AidLendKey

The more we change, the more we stay the same. Countless research has been devoted to understanding how various generations interact with and between each other, how their surroundings influence their behavior, and how their expectations get shaped over time. That is especially true for colleges and universities, which continue to act as the guidepost of education and development into adulthood. Some of these findings are fascinating, and all are immensely valuable. We’re currently seeing the first students of Generation Z enter college, and potentially change the way we think about higher education. And yet, some remarkable parallels to Millennials …

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Generation Z Goes to College: How They Compare to Previous Generations

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In College Planning & Financial AidLendKey

Millennials might be the hottest topic of discussion shaping many product discussions, but not when it comes to going off to college. No, for college admissions, the hottest topic is Generation Z–and with good reason. Gen Z is headed to college, but they’re determined not to make the same mistakes as their predecessors–and as a result, they’re using their smarts and savvy to redefine the way they approach that time at school. A Means to an End For members of Generation Z, college isn’t just about four years of experience–though they’re certainly interested in what it has to offer. Instead, …

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Why Does College Cost So Much?

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In College Planning & Financial AidLendKey

Whether you’re just about to start college or you’re several years beyond graduation, you have probably heard stories about what it used to be like to pay for college. Many people have heard their parents talk about paying for college with income from a summer job or working just a few hours a week here and there to keep up with tuition bills. In 1987, tuition for the average public four-year college was $3,190. By 2017 that number had more than tripled, up to $9,970, and that does not include room and board, books and other expenses. Yet, according to …

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Should I Accept My Student Loan Refund?

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In College Planning & Financial AidLendKey

Possibly one of the biggest regrets many graduates with student loans have is how they spent their student loan refund. A student loan refund is the portion of the loan remaining after total costs (tuition, fees, etc.) have been deducted.1 The remaining balance is then refunded to the student in the form of a check, usually at the start of a semester. Refund checks can be issued for thousands of dollars; and all too often, students feel this money is theirs to use as they please. The reality, of course, isn’t so sweet. Student loan refunds are not “free” money; …